An affinity group is a group such as a charity or an organisation which has a plurality of members. Examples of affinity groups are the National Trust, Cambridge University and New York University.
In such an affinity group scheme, it is desirable for an affinity group financial transaction card to be created. Members of the affinity group can then apply to receive the affinity group financial card which has a pre-designed affinity group card image thereon. For example, a member of the National Trust may apply for an National Trust credit card which has an image of one of the National Trust castles on it and/or the National Trust logo.
Affinity group financial transaction card schemes are desirable to affinity groups as the card issuer makes a payment to the affinity group for each affinity group member which applies for an affinity group card. The card issuer also pays a percentage of the spending accrued with each affinity group card to the affinity group. Furthermore, affinity group card schemes are desirable to the card issuer as the pre-designed affinity group card image motivates members of the affinity group to apply for a card, thus creating new clients for the card issuer.
Known affinity group schemes initially comprise a sales process driven by the card issuer to each affinity group. Once an affinity group has signed up to the scheme, an image must be created for the affinity group card. This involves a process of designing an affinity group image and then subsequently printing a number of cards having the affinity group image applied thereto.
The printed cards are required to be stored under very high security conditions in individually labelled boxes. In some cases sophisticated card delivery carousels are used, however, in most cases hundreds if not thousands of printed affinity group cards are stored in marked card holders.
The affinity group is then required to create its own marketing material, with help from the card issuer, inclusive of a financial card application form, for direct mailing to members of the affinity group.
If a member of the affinity group decides that he/she wants an affinity group card, then they are required to fill in the card issuers application form and post it to the card issuer. The card issuer then processes the application form and determines whether the member is eligible for a financial card. If the member is eligible, then the card issuer orders a pre-printed affinity group card having the affinity group image printed thereon, to be retrieved from the card holder and to be printed with the members details. Finally, the card is sent to the member.
A common problem associated with the known affinity group schemes is that the card issuers are only able to target the very largest affinity groups, for example large charities. This is because the logistical difficulties and onerous cost of setting up and delivering the affinity group card must be offset by considerable card volumes generated.
Additionally, the design and pre-printing of affinity group cards can be a lengthy process. Once designed the cards typically take between 8 to 12 weeks to be printed with the affinity group image. Furthermore, the direct mailing of the affinity group marketing material does not tend to have a high response rate, typically only 0.2% of the members approached apply for the affinity group card.
Embodiments of the present invention seek to provide an improved affinity group scheme.